All Forum Posts by: Scott Gammenthaler

So i figured I would update the crowd. Thank you all for your feedback, it was truly helpful to hear several opinions on what to do. 

Ultimately, after speaking with my Insurance agent (I realize they would be biased but he is also a friend) and a few other folks I really respect in town I decided the easiest route was to have the person(s) in question sign a personal injury release and give them the $300. The document clearly released me from ALL future liability and ended the matter right then and there. I had the document looked over by a lawyers office and we met at a notary to get the document notarized so that there would be no question in the future.

I do think I was taken advantage of to an extent, but the amount of stress/anxiety I was feeling from the situation made me take the quickest and easiest action to get the situation behind me and for that I am happy I did it. 

After meeting with them in person, I am fairly certain nothing would have come of "letting the lawyers handle it" as he said about 20 times in our discussions, but like I said, I have peace of mind that the situation is over. 

Thanks again to all! 

Hey BP community, 

Ok, heres the story. While my helper was on your standard rental showing appointment, talking with another interested party, a young woman unlocked the window in one of the bedrooms in the back of the house and the top part of the window slammed down on her fingers. She went to the hospital to treat her finger and it did turn out to be broken. This is apparently resulting in her missing 3 days of work. 

So, I get a call from the father of they young woman, and he/they are asking for $300 in compensation for her having to miss the 3 days of work. And if I don't agree then we will get the lawyers involved. This young woman is only 17 years old (she lied to me over the phone stating she was 18) so that is why her father is involved I presume. 

I do have insurance for these types of things. 

I do realize $300 is an inconsequential amount of money in the big scheme. 

BUT what would you do? Part of me wants to say forget it, pay the $300 and move on down the road. BUT part of me wants to call his bluff and get the lawyers involved.

Thoughts???

Hello All,

SUPER excited that I am buying my first duplex in Owensboro, KY and have a few questions. First off, here are the numbers on the property:

Purchase Price: $76,500

Projected (Past) Rent total: $1125

Neighborhood: B- or C+

1. Value of upgrades:

When it comes to rental property at what point does upgrading the property (granite countertops, fresh paint, new vanities etc.) pay off with attracting the level of tenant that is going to be good to work with? i.e. If I do not put any money into the place and focus on getting it rented will I attract the same level of tenant than if I put some money into it. (Property is currently Vacant) 

1b. IF I do want to put a little bit of money into the place for "niceties" (current countertops are turquoise) to attract a better class of tenant then what should I focus on? 

2. What is the best property management software for 2 units?

I work in software for my day job so I would like to use some type of automated software for keeping track and taking payments etc. but it seems that most solutions would not make sense for less than 10 or so properties. If providing 12 postmarked envelopes and using excel to keep track of everything I am OK with that but just wanted to see what people were using for so few units.

I really tried to not ask "newbie" questions and thank you in advance for your response!